2026/10/15 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

Following yesterday’s drop, I’m keeping a bearish bias.
That said, the lows are turning up (making higher lows), so it’s starting to look like we might get a rise for now.
The related pairs: USD/JPY is a sell, and GBP/USD is pulling back but looks like it’s about to stall… So rather than going long on a bullish shift, it might be better to wait for the rise and then go short on a bearish shift.

For day trading, though, I’d consider a long for now if price breaks above Line A.

Review

It played out as Scenario A.

After the break above Line A, I went long on the pullback at circle ①.
When it started to look like a double top, I took profit for the time being. 18 pips

I was wary of a drop, but price found support at Line A again, so I went long once more as the lower timeframes turned up.
After that, it broke above the green target line, so I set a limit slightly below the green line and closed out. 65 pips